Digital banking: Transforming the future of finance
Digital Banking: Transforming the Future of Finance Digital banking refers to the use of online and mobile platforms to offer banking services. Unlike traditional banking, where customers visit physical branches, digital banking allows users to perform transactions, apply for loans, invest, and manage accounts remotely. It includes services like mobile banking, internet banking, UPI payments, and digital wallets. Key Features of Digital Banking 1. 24/7 Access – Customers can access their accounts and perform transactions anytime, anywhere. 2. Mobile Banking Apps – Banks offer user-friendly apps that enable easy fund transfers, bill payments, and account management. 3. Digital Payments – Services like UPI, mobile wallets, and internet banking have made transactions faster and more secure. 4. AI-Powered Chatbots – Many banks now use AI-based assistants to provide instant customer support. Benefits of Digital Banking 1. Convenience – No need to visit a physical branch for banking transact...